Issue of Director Performance Rights
Updated : 15:30
3 August 2021
Issue of Director Performance Rights
Asiamet Resources Limited ("ARS" or the "Company") notes that pursuant to their letters of engagement, each of the Non-Executive Directors ("Directors") of the Company and the Chairman are eligible to receive directors fees. The Chairman and Directors have elected to receive these fees in performance rights in the form of shares for the period 1 January 2020 to 31 December 2020.
The share price to be used for the calculation is a 10-day VWAP over the 10 trading days immediately following publication of the Company's Annual Accounts as released on 24 May 2021, or if the Company is in a close period at that time, for the 10 trading days immediately following the end of that close period. In this case the share price used based on the above formula was 2.39 pence per share following the release of the Company's Annual Accounts.
The award of performance rights for the 2020 year is set out below:
Tony Manini | 1,034,226 | shares |
Dominic Heaton | 1,034,226 | shares |
Faldi Ismail | 1,034,226 | shares |
Peter Pollard | 1,034,226 | shares |
Bruce Sheng | 1,034,226 | shares |
Eva Armila | nil | Ms Armila joined the Asiamet Board on 5 May 2021 |
Following the issue of the above 5,171,130 shares, the shareholdings of those directors (including direct and indirect holdings) will be as follows:
Director | Holding of Common Shares | Percentage of Share Capital Following Admission |
Tony Manini | 49,156,497 | 2.53% |
Dominic Heaton | 8,041,535 | 0.41% |
Faldi Ismail | 16,758,978 | 0.86% |
Peter Pollard | 4,015,357 | 0.21% |
Bruce Sheng | 121,795,590 | 6.27% |
In addition to the abovementioned share issue, a further 1,493,397 performance rights will be granted in the form of shares in the Company to certain employees and contractors for their contribution to the Company during 2020.
Application has been made for the 6,664,527 shares ("New Common Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission to AIM will become effective and dealings in the New Common Shares will commence on or around 6 August 2021. The New Common Shares will rank pari passu in all respects with the existing common shares in the Company.
The total number of common shares outstanding after completion of the issue of the New Common Shares will increase from 1,936,553,101 to 1,943,217,628. This represents the total number of voting rights in the Company and may be used by shareholders as the denominator for the calculations by which they can determine if they are required to notify their interest in, or a change to their interest in the Company under the Financial Conduct Authority's Disclosure and Transparency Rules.
ON BEHALF OF THE BOARD OF DIRECTORS
Tony Manini, Executive Chairman
For further information, please contact:
-Ends-
Tony Manini
Executive Chairman, Asiamet Resources Limited
Email: tony.manini@asiametresources.com
Investor Enquiries
Sasha Sethi
Telephone: +44 (0) 7891 677 441
Email: Sasha@flowcomms.com / info@asiametresources.com
Asiamet Resources Nominated Adviser
RFC Ambrian Limited
Bhavesh Patel / Stephen Allen
Telephone: +44 (0)20 3440 6800
Email: Bhavesh.Patel@rfcambrian.com / Stephen.Allen@rfcambrian.com
Optiva Securities Limited
Christian Dennis
Telephone: +44 20 3137 1903
Email: Christian.Dennis@optivasecurities.com
Follow us on twitter @AsiametTweets
FORWARD-LOOKING STATEMENT
This news release contains forward-looking statements that are based on the Company's current expectations and estimates. Forward-looking statements are frequently characterised by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "suggest", "indicate" and other similar words or statements that certain events or conditions "may" or "will" occur. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from estimated or anticipated events or results implied or expressed in such forward-looking statements. Such factors include, among others: the actual results of current exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labour disputes and other risks of the mining industry; delays in obtaining governmental approvals or financing; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement, whether as a result of new information, future events or results or otherwise. Forward-looking statements are not guarantees of future performance and accordingly undue reliance should not be put on such statements due to the inherent uncertainty therein.
This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 ("MAR").
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